Rally continuation with intraday and Very Short Term corrections
Intra Day Chart Analysis & Market Outlook
(04-06-2019)
Nifty-Intra Day Chart (03-Jun-2019):- |
| Just click on chart for its enlarged view |
1- Whole day rally with minor intraday corrections
2- Whole day actual trading between 11921-12103
Conclusions from intra day chart analysis
As following negative developments therefore sentiment was much depressed today morning:-
1- Dow Jones"s Futures was trading more than 150 points down at the time of Indian markets opening.
2- Most Asian markets were trading in Red
3- Negative news was that US to end preferential trade treatment for India from June 5
4- GDP growth slumps to 5 years low at 5.8%
Although above dampening news but Inidian markets started to move up after flat opening and whole day rally remain continued with minor intraday corrections as well as Nifty closed at life time highest above 12000 today.
Rally is very much on and its continuation is expected with intraday and Very Short Term corrections. It should be kept in mind that until complete selling patterns will not develop on EOD charts till then any deeper correction will not be seen.